Fox Corporation (NASDAQ:FOXA) Receives Average Rating of “Hold” from Brokerages

Fox Corporation (NASDAQ:FOXA) has been assigned an average rating of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $74.3750.

A number of equities research analysts recently weighed in on FOXA shares. Weiss Ratings cut shares of FOX from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Barclays lowered their target price on shares of FOX from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, June 15th. Zacks Research downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Wolfe Research raised shares of FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 price target for the company in a research note on Tuesday, June 30th. Finally, Seaport Research Partners cut shares of FOX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Junto Capital Management LP bought a new stake in shares of FOX in the 2nd quarter worth $34,773,000. The Manufacturers Life Insurance Company lifted its holdings in shares of FOX by 11.0% in the second quarter. The Manufacturers Life Insurance Company now owns 118,135 shares of the company’s stock valued at $6,162,000 after buying an additional 11,669 shares during the period. Sequoia Financial Advisors LLC boosted its stake in FOX by 1.1% during the second quarter. Sequoia Financial Advisors LLC now owns 35,335 shares of the company’s stock valued at $1,843,000 after buying an additional 389 shares in the last quarter. National Pension Service boosted its stake in FOX by 50.6% during the second quarter. National Pension Service now owns 71,860 shares of the company’s stock valued at $3,748,000 after buying an additional 24,154 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in FOX during the second quarter worth about $1,758,000. 52.52% of the stock is owned by institutional investors.

FOX Stock Up 2.1%

Shares of FOX stock opened at $65.18 on Friday. The business’s fifty day moving average price is $61.77 and its two-hundred day moving average price is $60.83. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The company has a market capitalization of $27.35 billion, a P/E ratio of 17.02, a PEG ratio of 1.15 and a beta of 0.55. FOX has a 1-year low of $48.34 and a 1-year high of $76.39.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.35. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%.The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 earnings per share. As a group, research analysts forecast that FOX will post 5.94 EPS for the current year.

FOX Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a yield of 86.0%. FOX’s payout ratio is presently 15.14%.

About FOX

Fox Corporation (NASDAQ: FOXA) is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.

Fox’s businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.